Recently, The Wall Street Journal published an excerpt by John Steinbeck, who wrote about California’s Salinas Valley, where he grew up, in the novel “East of Eden” (1952). “I have spoken of the rich years when rainfall was plentiful. But there were dry years too, and then they put terror on the valley. The water … Continued
From Time Magazine, June 24, 1974: “As they review the bizarre and unpredictable weather pattern of the past several years, a growing number of scientists are beginning to suspect that many seemingly contradictory meteorological fluctuations are actually part of a global climate upheaval. However widely the weather varies from place to place and time to … Continued
The University of Michigan recently reported its consumer sentiment survey numbers. They were the second highest level since 2007, only below the January 2015 level. This survey asks people questions about their current financial situation and how they feel it will change over the next twelve months, along with questions about their feelings on the … Continued
The problem, in short, is that Greece cannot meet its financial obligations in a timely manner and, perhaps, not at all. Negotiations with Greece’s creditors are at an impasse and both sides are engaged in a high stakes game of chicken. Neil Irwin, a senior economic correspondent of The New York Times, recently commented on … Continued
Starting a family is a huge time and financial commitment. The greatest gifts you can give your children are love, a happy and safe home, and security. We all strive for financial security and to achieve that goal requires diligence, planning, and common sense. Obviously, the earlier you start planning the greater chance for success … Continued
Fluctuation is the norm. Markets fluctuate. Rainfall fluctuates. Tax collections fluctuate. Fluctuation is real but can be managed if recognized and dealt with in a disciplined manner. It is obvious that discipline is the problem. Many public sector pension funds are still distributing so called “13th checks”, reflecting the manager’s willingness to distribute the results … Continued
Consensus estimates for first quarter 2015 S&P 500 earnings suggest that we are likely to experience the first negative quarter since 2009. Price/earnings ratios are often material in projecting future stock prices. Should we be worried? Perhaps, but the outlook over the next 12 months may be more encouraging, and many investors put more weight … Continued
On April 8, 2015, Stratfor, a geopolitical research institution, reported the April 7th dispatch of the U.S. State Department Counselor, Dr. Thomas A. Shannon, Jr., to Caracas, Venezuela, following Venezuelan President, Nicolas Maduro’s public request for a meeting between ambassadors of the two countries. This meeting directly preceded the Seventh Summit of the Americas, hosted … Continued
Generally attributed to Mark Twain, this is just as true to day as it was in the 1800s. Consider California and its increasingly onerous restrictions on water usage. Water is an essential ingredient of life, and businesses require reliable and economic supplies of water in order to operate. California’s apparent inability to effectively manage its … Continued
Merriam Webster defines assumption as follows: “when planning, a fact or statement taken for granted.” My major in college was economics, but if you had told me it would be my major as a college freshman I would have scoffed. In my first economics class, Macro-Economics 101, I was disturbed that every formula contained one … Continued
In recent months, three large retailers including Wal-Mart, Target and T.J. Maxx have announced an increase in the minimum wage paid to their employees. Other retailers who also pay above the minimum wage include The Gap, Costco, IKEA, REI and Whole Foods, to name a few. For perspective, the current minimum wage is $7.25. Wal-Mart, … Continued
Since the financial crisis struck in 2008, central banks around the world have embarked upon what has become known as ZIRP, or, “zero interest rate policy.” Largely, this means keeping interest rates as low as possible so as to protect borrowers and industries dependent upon borrowing (housing, auto’s, etc.) from insolvency. Of course, a critical … Continued
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